A Bot Found Twitter’s Financial Results Early and Caused Its Stock to Plunge

Apparently, releasing a company’s financial results ahead of time can cause quite a dramatic effect on its stock value. A financial tech named Selerity managed to dig up Twitters’ numbers using a bot that scans for financial results-related URLs. Selerity published the company’s quarterly results before they were released officially on Tuesday, and this caused a stock price tumble of 18 percent. As a result, Twitter’s stock price was at $42.27 per share at the end of the day.

During the year’s first quarter, the social networking goliath lost over $162 million. Furthermore, from 2010 to 2014, it lost over $1.5 billion, which is quite considerable even for such a successful brand. During an annual report that was released in 2015, Twitter’s management stated the following:

” Since our inception, we have incurred significant operating losses, and, as of December 31, 2014, we had an accumulated deficit of $1.57 billion”

CEO Dick Costolo tried to reassure investors by releasing the following statement:

“It is still early days for these products, and we have a strong pipeline that we believe will drive increased value for direct response advertisers in the future.”

Do you think that Twitter will be able to recover from these significant losses?